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03-12-2009, 05:53 PM #1
Renter
- Join Date
- Mar 2009
- Posts
- 1
For sale by owner
I am a buyer and currently signed a contract with a realitor to represent me. I have found a home that I want to purchase, but it is a for sale by owner. Also The owner refused to deal with a realitor. He actually said that he would hang up on them if they even called him. I want to purchase the home, but I am under contract with the realitor. Any suggestions on what to do?
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03-13-2009, 06:07 AM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,281
The seller is acting irrational. Take this as a warning of things to come should you end up trying to buy this house.
He is insisting that you buy the house without any professional help. Is it because he is hiding something he figures he can get away with if you go it alone?
If you go it alone make sure you have a loan contingency, an inspection contingency, an appraisal contingency, etc. written into the contract. What he says means absolutely nothing, what matters is what is in writing.
I have seen sellers whose only goal was to get their hands on your earnest money deposit. Be careful.
Also make sure the seller is not about to go into foreclosure. You could find yourself at the closing table and the house ends up belonging to the seller's lender in foreclosure and you are out all of the money you spent to getting ready to buy the house.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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03-13-2009, 06:27 AM #3
Fixer Upper
- Join Date
- Jun 2006
- Posts
- 26
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